Yardi reports annual rent growth at 4.7 percent nationally in September, falling for the first time since last November.

Rent growth in Los Angeles is expected to hit 7.1 percent by the end of 2016.

For renters, a slowdown in the market’s growth is a welcome trend. While the drop was hardly noticeable, September saw its first monthly dip since November 2015 to $1,219, down just one dollar from August.